With the rise of Ebay and Amazon, these companies have been successful points of exchange for sellers and consumers, thereby expanding the e-commerce world. Similarly Etsy, an online marketplace for handmade crafts, is a platform for aspiring entrepreneurs to bloom their business.
Etsy’s homepage featuring handcrafted items (Source: Etsy)
What makes them different, however, has been their keen sense of focus on sustainability through their vision to help create jobs for craftsmen and artisans within the community while ensuring quality, handmade products to their online shoppers through strict policies. Since October, things have ventured down a different path for Etsy, as they announced guidelines to accommodate the growth of their sellers.
While focused on the growth of the company, they must be careful with the decisions they make. Previously distinguished by their “handmade ethos”, the company’s prospects of expanding have generated complaints from the public, claiming that Etsy has simply become a sales engine like Ebay. I personally care about the workmanship of my jewellery products. In light of many similar customers, the company may well be tarnishing one of their competitive advantages. As a hybrid enterprise with profit maximization in mind, the company must create shared value without compensating the societal need for quality products (Harvard Business Review).
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